Briere, 35, is expected to make $6.5 million the next two seasons. With the salary cap dropping nearly $10 million for the 2013-14 season, the buyout will free up some much needed money as the Flyers attempt to get under the cap and prepare their team for next season.

If Briere is bought out, he will be owed $3.33 million over the next four seasons.

The news has been expected for much of the 2013 campaign with Briere struggling with injuries as well as finding the back of the net. Briere talked about it last month, saying he expected to be bought out though he prefers to stay in Philadelphia.

In 34 games this season, Briere scored six goals and added 10 assists. At one point, Briere was on a 19-game goalless drought. He scored just one goal in the last 21 games of the season.

Howard Eskin, whose reports are always to be taken with a grain of salt, tweeted that Flyers president Peter Luukko told him that the Flyers do not plan on buying out goaltender Ilya Bryzgalov.